Equitable Distribution

Apart from child custody and support, there is possibly no more
divisive issue during a divorce than the fair and equitable
distribution of assets and liabilities. North Carolina statutes and
case law may be specific about which assets and liabilities are to
be divided; however, the difficulty lies in the identification of
those assets, their valuation, and the separation of “marital” from
“non-marital” assets, as well as constantly changing “divisible
property.”

Multiple interpretations of property issues create a gray area
that often results in protracted and expensive litigation. At Tash &
Kurtz, PLLC, our lawyers can assist in the negotiation of settlement
agreements outside of court. These agreements involve the input of
both parties and are thus resolved without a trial on these issues.
We have found these agreements to be more flexible than those the
court might order, and they tend to circumvent future disputes
because one party does not feel as though the other party or the
court has imposed a settlement upon him or her.

If the parties cannot agree, it may be necessary to seek a
court-ordered property distribution, and North Carolina property
statutes mandate that the process of “equitable distribution” be
applied.

Marital property includes both assets and debts acquired during
the marriage by one or both spouses that continue to be owned on the
date of separation. It does not include gifts and inheritances that
were received by one spouse only from third parties. In equitable
distribution cases, the parties are required to provide an inventory
of all property for the purpose of calculating the net value of the
marital estate. An equal (50/50) division is presumed to be
equitable, unless, after considering certain other factors, the
court determines that a 50/50 division would not be equitable. Some
of the factors the court may consider in deciding whether there is
good cause for an unequal division:

An obligation for support arising out of a prior marriage.

Need for the custodial parent to reside in the marital
residence.

Duration of the marriage.

Age and physical/mental health of both parties.

Income-earning potential of both parties.

Direct or indirect contribution by one spouse toward the
education or career potential of the other spouse.

Marital fault is not considered relevant in equitable
distribution cases, unless marital misconduct has had an economic
impact on the value of the marital estate. If the division of assets
is contested, you should hire an attorney to obtain a temporary
injunction to protect your rights and the marital property and
divisible property.

A lawyer from Tash & Kurtz, PLLC can also advise clients on the
separation and protection of other assets, including business assets
and retirement benefits. We are experienced in handling both complex
and relatively simple asset division cases, and we will work to
create accurate, timely resolutions that are in the best interest of
our clients.

At Tash & Kurtz, we keep our client’s interests at heart. Our
goal is to create resolutions that can allow for healing, whether
through litigation or through more affordable alternatives to
litigation. If you need an attorney for an equitable distribution or
other family law matter, please contact us.